ING Direct has been for the last few years THE best deal around for savers because not only did they pay 5% but they never played the tricks that other banks did, ie promoted headline grabbing rates only to drop them significantly once significant savings had been deposited.
So it comes as a real surprise that ING is dropping its saving rate to 4.75% especially as UK interest rates haven't moved correspondingly lower. But business is business so anyone who has a ING Direct should take their business elsewhere with one of the best deals at present being the instant saving account at Cahoot which pays 5.1%.
The Alternatives to ING Direct
Firstly note that it's usually very easy to change accounts these days with most banks/building societies offering online signup. Don't let the banks win by apathy, the fact that many clients can't be bothered to change account or in some cases never realise that their bank has dropped the savings rate.
These accounts are paying the best savings rate right now include;
** It pays to know yourself in these types of situations. For example, if you're the kind of person who forgets things or can't be bothered to do paperwork all the time you're better off opening an account with say Cahoot
Also note that Northern Rocks website is an absolute disgrace and many will find it almost impossible to sign up online.
